Fancy treatments, soaring vet bills have made pet owners very conscious of acquiring the right pet insurance. Vet pet insurance is an option for conscious pet owners, who wish to provide the best medical treatment for their pets. The veterinary care covered by pet insurance includes vaccines, surgical procedures, on-going or long-term chronic conditions and other advanced medical care.
Renewed every year, a pet coverage can cost you $99 to $6,000 depending on the life of an average pet. A vet pet insurance is sometimes excluded for pets over a particular age. Hence due care need to given before buying a vet pet insurance. This pet insurance comparison gives you an insight into the various options available.
Fancy treatments and howling rates
Treatments, which were once reserved for humans like radiation therapy, kidney transplantation, are now available for pets too. Pets even undergo MRI scans sometimes. Vets have access to sophisticated equipment thus increasing the bill rates of pet owners. Imagine a pet treatment that can cost you anywhere around $5,000 in certain cases. Instead of shelling all this money, as a disciplined pet owner, you can for pet vet insurance.
Pet insurance facts and firms
According to the American Pet Product Manufacturers Association, Americans have spent nearly $11 billion on veterinary care in 2008, which is actually an 8.5% increase from 2007. Also by 1995, less than 3% of the 71 million pet owners had pet vet policies. Later the pact of American Kennel Club and Petco Animal Supplies to offer pet vet insurance created a boom in the industry. More than 1,600 companies including Office Depot and Google are providing pet vet insurance as an optional employee benefit.
Veterinary Pet Insurance (VPI), one of the oldest pet insurers of the US had gross sales of around $149 million in 2007. Other leading players of the market include Petplan and PetProtect. Petplan USA is the licensed partner of Petplan UK, the largest insurer of Europe.
However, pet insurance is not a complete cure-all. It has its own limits and disadvantages. For instance, most policies have their own deductibles like co-pays and caps that limit how much will be paid annually. Moreover, pre-existing or hereditary conditions like hip dysplasia in retrievers and German Shepherds are normally excluded. Your premium is decided on the age of your pets.
Nevertheless, remember, a pet insurance is very crucial as it lowers your pet's routine health care costs and comes handy during unexpected illness or injury.
Types of pet insurance
Cheap vet pet insurance: Designed for unusual emergencies, this cover confines the claim to per condition per 12 months.
Annual vet pet insurance: As the name suggests, the claims are confined to the total amount paid annually.
Vet pet insurance based on condition: Through this policy, the pet owner pays for the condition that needs to be covered for his/her pet.
Remember few things before buying cheap pet insurance. All that comes cheap is not necessarily the best, few are exceptions though. Ensure that the insurance company, which is offering a cheap pet insurance, is reliable in business. Analyze few things like their record of accomplishment, experience, number of years in business, and above all, whether the company or its representative is licensed to sell insurance in your state.
Then double check whether the insurance is worth your dollars. Few cheap pet insurers have breed restrictions and they have a limit on the amount paid over the lifetime of the pet. Moreover, cheap pet insurance is not covered for pets beyond the age of 9. Check with the insurance providers on the clauses since some of them do not cover certain conditions. Some pet health insurance providers have a network with veterinarians while few allow you see the vet of your choice. Check with your service provider on this aspect.
Conduct some research before you buy a cheap pet insurance. This includes comparing the pet insurance quotes from other providers. While comparing, look for benefits, coverage and exclusions in each policy as they are the crucial factors of any pet insurance. While comparing coverage, look for features like the diseases covered, basic visits, shots or vaccines, treatment plans that are covered beyond accidents. Finally, find out the most crucial thing, the time taken by the provider to reimburse you for your claim.
There are plenty of pet insurance providers most of whom could be traced online. Get multiple quotes from these vendors and take minimum two days time before you finalize the one for your loved pet.
Pet insurance usage
Most of the pet owners are confused on when and how should the pet insurance be used. Listed below are few instances that might help you determine the effective usage of your pet insurance.
Irregular feeds: If there is some problem with your pet's diet, and if you haven't changed its diet recently, then it's time to take him/her to the vet.
Drinking excessive water: If your pet is consuming excessive amounts of water and has an urge to excessive urination combined with frequent in-house accidents is an indication of some kidney problem. If any of these symptoms is noticed in your pet, check with your vet immediately.
Losing Sheen: Keep an eye on your pet's skin. A new bald or a dry patch is an indication of anything from a flea allergy to skin problems.
Frequent Vomiting: Frequent vomiting within an hour combined with a pain in your pet's stomach or emotional depression is a serious issue. Consult your vet immediately.
Loose poop: If your pet has loose poops or stools accompanied by frequent vomiting, excessive thirst or change in diet, it is an indication of some critical condition. It is better to check with your vet as quick as possible.
Vet Pet Insurance Claims
Generally, a vet insurance provider uses a variety of forms to file claims. These forms should be filled by the pet owners and can be filed online. However, few companies prefer to either mail or fax the same to them. Filing your claims online is much easier and quicker.
Ensure to carry the copy of your pet's insurance while taking it to the vet's office. This helps you in quick processing since the forms could be filled at the end of the visit. Beware of your policy coverage before filing claim forms to avoid any glitches or hassles. Usually the vet pet insurance claim forms have two sections.
The first section requires the basic information about the pet like its name, breed and age of your pet, your phone number, contact address and other important personal information of the pet owner. The second section of the form requires the pet owner to detail the services that were provided by the vet clinic along with dates and receipts. Ensure to enclose copies of your vet clinic receipts.
Few companies might ask for medical records; however, it is dependent on the kind of claim that is made. In general, a vet pet insurance claim is processed within two weeks of submitting provided everything is in place. Depending on the co-pay, a pet owner is reimbursed for eighty to ninety percent of the total cost.